Bank A charges 10% APR.On auto loans with monthly compounding. What is the Effective Annual Rate (EAR)

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Bank A charges 10% APR.On auto loans with monthly compounding. What is the Effective Annual Rate (EAR) ?

In other words, what is the EAR for a 10% APR with monthly compounding?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Jul 22, 2023 06:39 AM

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Bank A charges 10% APR.On auto loans with monthly compounding. What is the Effective Annual Rate (EAR)

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Personal Finance

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